Mexican Silver Peso (1861–1992)

Since the early 1990s, the Mexican peso has undergone a significant transformation. In 1993, the Mexican government embarked on a project to stabilize the country's economy and stem the tide of inflation that had plagued the country for years. As part of this project, the government introduced a new currency, the Mexican peso (MXP). The new peso was initially pegged to the US dollar, and this peg helped to stabilize the Mexican economy. However, in the wake of the global financial crisis of 2008, the Mexican peso came under pressure. The Mexican government was forced to abandon the peg, and the peso has since floated freely against the US dollar. Despite the challenges of the past few years, the Mexican peso remains an important currency in the global economy. Mexico is a major exporter of oil, and the peso is used in a number of other commodity markets. The Mexican peso is also a popular currency for Carry Trades, due to the country's relatively high interest rates. Looking to the future, the Mexican peso is likely to remain an important currency in the global economy. However, the Mexican government will need to continue to manage the economy carefully to ensure that the peso remains stable.